产业经济周观点：中国信息技术产业长期有望成为全球竞争优势产业，科技股可能呈现龙头抱团特征

Group 1 - The report highlights that China's acceleration in globalization may drive the long-term appreciation of the Renminbi, with a mid-term focus on the realization of U.S. de-globalization policies and the risk release in U.S. equities as potential windows for Renminbi appreciation [1][51]. - The report indicates that the global manufacturing recovery is hindered, with the improvement in U.S.-China relations falling short of expectations and the U.S. real estate market being unhealthy, which could pose significant risks to global manufacturing recovery [2][24]. - Industrial profits in China have shown a notable improvement, with November's industrial profit growth rate at -7.3%, up from -10% previously, indicating a recovery trend that aligns with improvements in M1 [11][40]. Group 2 - The report suggests a positive outlook for leading companies that are self-controlled, cyclical core assets, central state-owned enterprises, and AI applications in the medium term [7]. - The long-term potential of China's information technology industry is emphasized, with expectations that it will become a globally competitive industry, and technology stocks may exhibit a trend of leading companies banding together [8][45]. - The report notes that the performance of the broad market indices has diverged, with the Shanghai Composite Index rising by 2.22% and the ChiNext Index declining by 0.86%, indicating a shift in market style [14].